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Barclays could sell BGI

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Barclays could sell BGI

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UK bank Barclays has confirmed it has received an “unsolicited” approach about selling its prized asset management arm Barclays Global Investors.

Sources said potential purchasers include US money manager Blackrock and Bank of New York Mellon at a price of up to 7.4 billion euros. Any deal would mean Barclaya would have to pull out of a recent agreement to sell its iShares division, which is part of BGI. That sale which is due to close on 18 of June.